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+--- Thread: Now Your Health Insurance Is Income On Your 2011 W-2's (/showthread.php?tid=1080)
Now Your Health Insurance Is Income On Your 2011 W-2's - ClassicalLib17 - 07-23-2010
Quoth, Nancy Pelosi: "We have to first pass the healthcare bill so we can see what is in it". I'll bet this new tax provision will be the straw that breaks the camel's back. For those of you that have employer provided healthcare, please sit down before reading this, and then ask your employer what your family health coverage is worth. I think I'll post a couple of nice smilies for this one.
![[Image: icon_rolleyes.gif]](http://www.wauktalk.com/images/smilies/icon_rolleyes.gif){kind=icon}
![[Image: icon_lol.gif]](http://www.wauktalk.com/images/smilies/icon_lol.gif){kind=icon}
One of the surprises we'll find come next year, is what follows - - a little "surprise" that 99% of us had no idea was included in the "new and improved" healthcare legislation . . . the dupes, er, dopes, who backed this administration will be astonished!
Starting in 2011, (next year folks), your W-2 tax form sent by your employer will be increased to show the value of whatever health insurance you are given by the company. It does not matter if that's a private concern or governmental body of some sort. If you're retired? So what; your gross will go up by the amount of insurance you get.
You will be required to pay taxes on a large sum of money that you have never seen. Take your tax form you just finished and see what $15,000 or $20,000 additional gross does to your tax debt. That's what you'll pay next year. For many, it also puts you into a new higher bracket so it's even worse.
This is how the government is going to buy insurance for the15% that don't have insurance and it's only part of the tax increases.
Not believing this??? Here is a research of the summaries.....
On page 25 of 29: TITLE IX REVENUE PROVISIONS- SUBTITLE A: REVENUE OFFSET PROVISIONS-(sec. 9001, as modified by sec. 10901) Sec.9002 "requires employers to include in the W-2 form of each employee the aggregate cost of applicable employer sponsored group health coverage that is excludable from the employees gross income."
Joan Pryde is the senior tax editor for the Kiplinger letters. Go to Kiplingers and read about 13 tax changes that could affect you. Number 3 is what is above.
Re: Now Your Health Insurance Is Income On Your 2011 W-2's - Hoopla - 07-23-2010
Classic,
It's true that the health insurance paid will be included on your W2. At this time it is
not taxable income. It is for *information purposes* for use by the Federal Government
to properly manage our new health care system.
You can draw your own conclusions as to if/when this will be taxed as income.
Re: Now Your Health Insurance Is Income On Your 2011 W-2's - verenablock - 07-23-2010
<!-- m --><a class="postlink" href="http://www.politifact.com/truth-o-meter/statements/2010/jun/10/chain-email/w-2-tax-forms-hr-3590-health-insurance-pay-taxes/">http://www.politifact.com/truth-o-meter ... pay-taxes/</a><!-- m -->
Re: Now Your Health Insurance Is Income On Your 2011 W-2's - ClassicalLib17 - 07-23-2010
I'm sorry, I was drunk when I posted that.
Re: Now Your Health Insurance Is Income On Your 2011 W-2's - Danno - 07-24-2010
ClassicalLib17 Wrote:I'm sorry, I was drunk when I posted that.Maybe you should take your blinders off and take a more serious look at the guys you are backing. They seem to be masters of deception and corruption as demonstrated by the misinformation and disinformation contained in this email. They are literally intentionally creating lies to sway public opinion.
Here is an analysis of that widely circulated email and how the person who created it left out the fact the the Kiplinger article that was quoted plainly states: "The amount reported is not considered taxable income" yet the writer makes no mention of this important fact.
http://mediamattersaction.org/emailchecker/201007150014
Yeah, the people who are creating this trash are some gool ol honest Patriotic Americans right?